Sparc Group, the parent company of Forever 21 and Aéropostale, announced it merged with JCPenney to create a new company called Catalyst Brands.

JCPenney announced Thursday the company merged with SPARC Group, to form a larger retail organization called Catalyst Brands.

Key Takeaways JCPenney has agreed to merge with SPARC Group, which owns brands including Aéropostale, Brooks Brothers, and Lucky Brand.The combined company, Catalyst Brands, has a combined $9 billion in annual revenue and 1,

JCPenney is merging with a retail company with household names to form a new one based in Plano. The longtime local retailer and Sparc Group announced they have combined to form Catalyst Brands and will cover several brands: Aéropostale,

JCPenney has merged with the owner of several retail brands to create a brand new company. On Jan. 8, JCPenney merged with SPARC Group, the owner of the following companies: Through the merger, JCPenney and SPARC Group created Catalyst Brands.